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Canadian Metals Inc.
Summary
| Project: | Langis | |
|---|---|---|
| Deposit: | Langis | |
| Location: | Canada | |
| Commodities: | Silica | |
| Date: | 7/29/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing PEA | |
| Report details: | 29-7-2016: Canadian Metals Inc. announces a PEA report for its Langis deposit at the Langis project. PEA does not comply with NI43-101, an amended report is to be filed by September 28, 2016. July 29, 2016- Montréal, Québec – Canadian Metals Inc. (the ‘‘C | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | July 29, 2016- Montréal, Québec – Canadian Metals Inc. (the ‘‘Corporation’’) (CSE : CME) was informed by the Autorité des marchés financiers (“AMF”) that the technical report titled NI 43- 101 Preliminary Economic Assessment on the Langis Silica Deposit and Metallurgical Silicon Processing Plant in the Matapedia Region, Province of Québec, Canada filed on SEDAR on June 20, 2016 (the “PEA”) does not comply with the requirements of Regulation 43-101. The obligation to file a technical report within 45 days was triggered by the Corporation’s press release announcing the results of a Preliminary Economic Assessment study on April 28, 2016, under Regulation 43-101 Standards of Disclosure of Mineral Projects (“Regulation 43-101”). Following the filing of the PEA on June 20, 2016, and the correspondence between the Corporation and the AMF which followed the receipt of the AMF comment letter on July 4, 2016 requesting that the Corporation file an amended technical report (the “Amended Report”) on or before July 19, 2016, the Corporation applied for a Management Cease Trade Order (“MCTO”) under Policy Statement 12-203 pending the filing of the Amended Report. The AMF also noted that the mineral resource estimates, as set forth in the PEA, did not comply with the form requirements under Regulation 43-101 to the effect that the Qualified Person must provide sufficient technical discussion of the key assumptions, parameters, and methods used to estimate the mineral resources. Following correspondence between the Corporation and the AMF to resolve the issues identified, the Corporation will file the Amended Report on SEDAR on or before September 28, 2016. The Amended Report will be co-authored by newly appointed Qualified Persons. | |
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